With $14 billion from selling out of TNK-BP, Mikhail Fridman and German Khan’s Alfa Group is planning to return to the oil industry and expand worldwide, according to Stan Polovets, chief executive officer of the Alfa- Access-Renova Consortium, which owned the Russian oil venture 50:50 with BP Plc.

Alfa-Access-Renova, the group of Russian billionaires that owns 50 percent of TNK-BP , rejected BP Plc’s offer of $27 billion for its stake in TNK-BP because it retains a long-term commitment to TNK-BP, the Financial Times said, citing AAR Chief Executive Officer Stan Polovets .